Channel 4 backs premium mattress startup in ‘transformational’ Series B round
London-based startup eve Sleep has announced it has raised £6.9m as it closes the first half of its Series B round.
The firm, who specialise in premium mattresses, have now raised £10m in funding since it was founded in February 2015 and have drawn backing from UK broadcaster Channel 4, as well as high-profile investment firms Octopus Ventures and DN Capital who have both invested in the startup previously.
Channel 4’s investment in eve is derived from the public-service broadcaster’s Commercial Growth Fund, which is geared towards getting high-growth companies not currently advertising on television to push their brand on Channel 4, and will see the firm significantly expand its marketing efforts.
Founded by the four-strong entrepreneurial team of Jas Bagniewski, Kuba Wieczorek, Felix Lobkowicz and James Fryer, the retailer has enjoyed significant growth in the last 15 months and now has a forecasted turnover in excess of £17m with a presence in America, France and Germany.
Jas Bagniewski, Chief Executive Officer said: “Since launching in February 2015, business has been incredible as consumers and investors embrace and continue to back our brand as much as we do.
“We are seeing 25% growth month-on-month, which has been fueled by word of mouth about the quality of our product and our truly “customer first” approach which includes 3-day delivery and a 100-night sleep trial.
“We are delighted to welcome Channel 4 to our investment portfolio. Their backing, alongside Octopus Ventures and DN Capital, is proving transformational for eve Sleep and will allows us to continue our ambitious expansion plans both around across the UK and internationally.”
The startup’s maiden television adverts are due to air this week on Channel 4 in the wake of its new fundraise and will contribute towards eve Sleep’s more ‘holistic’ marketing efforts.
Vinay Solanki who is Head of Channel 4’s Commercial Growth Fund, commented: “eve Sleep is an exciting business partner for our Commercial Growth Fund as it seeks to disrupt a traditional “try-before-you-buy” retail industry through its innovative digital led model.
“Since launching last year, their impressive growth illustrates their outstanding execution so far and evidences a clear gap in the market.
“Our investment in eve Sleep’s first ever TV ad campaign will support them in accessing the powerful medium of TV advertising to help consolidate eve Sleep’s brand position in this rapidly emerging segment.”
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